Stretchy Dollars Columns

Eggplant, the Environment and Eco Friendly Savings

Mon, 01 Jan 0001 00:00:00 GMT

I didn’t realize, until my adult years, what a “green” gardener my Abuela was and how important her eco-friendly style of living was to our environment. She used to make her own mulch from grass clippings and actually collected horse manure from stables in our Texas town. I thought it was totally gross at the time, but it was totally great for the environment—plus she saved our family money by growing her own fruits and vegetables.

There are a lot of ways that you can save money and help save the environment by going green. Here are a few simple changes you can make to help keep costs down for gardening and energy, helping you save money and live better.

Green Gardening

If you choose to repurpose a section of your lawn for a garden, you’ll find that it’s really quite easy to align a green mindset along with your green thumb by incorporating some natural ideas that promote sustainable gardening. For example, leave the grass clippings on your lawn in order to return up to 50% of the required nutrients back into the soil. An added benefit is that there are no clippings to bag. Another part of being a sustainable gardener is to use compost – or use natural fertilizers such as seaweed and kelp – which will encourage plants to grow at a natural rate and also have the added benefit of keeping pests away. Additionally, if you plant your garden in closely packed hexagonal shapes, you’ll find that you use less water and weeds are less of a problem.

By choosing hardy plants that are well adjusted to your climate, you’ll be able to feed birds and attract other wildlife as well. During the times when your garden is not producing fruits and vegetables, you might want to consider planting alfalfa, oats, clover or other grains. These will naturally replenish the soil, which means you’ll have a higher yield next season.

Saving Your Energy

The latest report from the 2008 Consumer Expenditure Survey indicates that energy costs have risen 16.6% for people living in urban areas, which means many American families could pay over $3,600 this year in utilities (as estimated in a recently reported Marketwatch survey, May 21, 2008). Here are five simple steps you can look into today to reduce your energy usage and save money:

· “Time of Use” – Electricity is a big expense in the summer and some states are offering a special discount for those who are willing to restrict their use of electricity during certain times of the day. A programmable thermostat is a great investment that helps you not waste air conditioning when you don’t need it, and money saved could be up to $180 per year. You can also save on electricity by waiting until night to run specific appliances, like dishwasher or swimming pool pump.

· Energy Survey – Most utility companies also offer a free energy survey. Since this is tailor made for your home and utility usage, it’s also the very best way to target specific areas that could save energy and save money. Go to your electric company’s website for more information.

· CFL Bulbs -- Installing compact fluorescent light (CFL) bulbs is one of the easiest ways to start making an impact on your energy bills. Not only do you save money and energy, but you contribute to a cleaner environment by reducing fossil fuel usage. Modern compact fluorescent light bulbs, use 75 percent less energy, save more than $30 in energy costs over the life of the bulb, and last up to 10 times longer.

· ENERGY STAR Rated Products – If you want to save up to 25% in energy costs, then begin to look for the ENERGY STAR rating on everything from hair dryers and other small appliances, to refrigerators and other larger appliances.

· Seal and Insulate – Stopping those air leaks and insulating your home properly can save you up to 10% annually on your electric bills, and again, save energy. See a helpful guide and tips for homeowners at www.energystar.gov. You should also check your air filters regularly to ensure they are clean and not overworking your unit.

By doing our part, little by little, we’ll find more green in our pockets and make a greener earth at the same time—that’s something my Abuela would have been proud of!

Cash for Trash: How to Maximize Your Garage Sale

Mon, 01 Jan 0001 00:00:00 GMT

When I saw her, I knew I had to try it. The crew member who was with me was surprised and asked, “Are you going to do that in heels?”

Yes, I was.

And I did.

It was frightening and exhilarating at the same time.

I look at life as an adventure—especially when it comes to stretching my dollars and finding creative ways to make and spend money. Sometimes we need to have the ultimate adventure—a garage sale!

Paying a dime on the dollar for a product still in its original box is a thrill. Not only do garage sales simplify your life by helping you de-clutter, but they also provide a way to keep more change in your pocket and teach your kids the value of a buck.

Here are my top ten tips to host a successful garage sale. If you follow them carefully, you’ll find yourself flying high—without the bungee cord!

Collect – Throughout the month, throw stuff in a big box (or boxes) marked, “Garage Sale.” Not only will you relieve clutter, you’ll soon have enough diverse items to host a sale. Of course, other members of your family (particularly husbands!), may remove items from the box.

Location – It’s great to buddy up with a friend whose house has a better location than yours in order to maximize drive-by traffic. Or, ask a neighbor (or two) on your block to host their own sales—you could attract three times the garage sale traffic with your combined sales.

Advertise – When you create garage sale signs for the neighborhood, use brightly colored poster board and a good contrasting color. Keep the lettering brief and legible and tape some balloons on it. Go in with your neighbors on a small ad in your local paper, it will really help bring people to your sale.

Pricing – If you put a price on your product, you are more likely to sell it. Most people don’t want to ask, “How much for this?” However, even with the price marked, there will be some who will haggle with you—but that’s to be expected. If there are certain items you’re willing to accept a lower price for, mare them as “or best offer.” Begin pricing items weeks before the sale, placing them in a “finished” box in your garage.

Cash – Have at least $20 in coins, 50 one-dollar bills and 6 five dollar bills. Keep your money box in a safe location and never leave it unattended. Bring each $100 earned into your house for safekeeping.

Checks – Never take a check from someone you do not know. This isn’t just a matter of trust, it’s one of responsibility. Most people know to bring cash.

Hold – Never hold an item without a substantial non-refundable deposit. If you hold it for free, then the customer might not return and you’ve lost your opportunity to sell that item.

Marketing – Place furniture and bikes that will draw attention by the curb where people can see them. Try marketing ideas such as “buy three books/get three free.” It’s amazing how well this works—people respond to the word “free.”

Clean –If an item looks newer because it’s clean, you’ll be able to get as much as 50 percent more for it. Run sturdy plastic toys through the dishwasher, spot clean the armchair, wash and hang clothes on a hanger, and polish wood furniture—it’s worth it!

Expand – Let your kids get in on the action by selling lemonade on hot days or coffee and donuts on cool mornings. Let the kids go to the store with you to buy cups, donuts, napkins, lemonade and sugar. Be sure they understand how to make change and how to be courteous to customers. Who knows? They may earn enough to fund their college education (or at least buy a new bike!).

Good Investments in Summer Vacation

Mon, 01 Jan 0001 00:00:00 GMT

No, this is not a secret meeting of the deranged and demented, it's our family sitting around the campfire shouting lines from our favorite movies (the above quotes are from Back to the Future, Princess Bride, The Sandlot and Dirty Harry) It's one of those family traditions that make forever memories. Camping was and is a family vacation that our family enjoys and it is both affordable and budget friendly.

Staycation Savings

Today, with higher gas prices, many families are choosing to invest their vacation dollars in purchases that will last a lot longer than a three day trip to a themepark and cost about 1/10 as much. For example, some families are buying the kids a swingset or waterslide, and investing in new backyard furniture that will last many seasons to come. This summer, if you feel the need to create a “staycation” by saving money and staying closer to home, there are plenty of ideas to stick to your budget and still make great memories, even if it’s for a brief weekend trip to a favorite spot right in your own backyard. Here are a few ideas on how to maximize your summer vacation fun on a smart budget:

Plan Day Trips – The majority of New Yorkers I’ve talked to who live in Manhattan have never visited the Statue of Liberty. Most of the families that live in Fort Worth, Texas (my home town) have never seen the historic Stockyards, a true remnant of “Cowtown’s” wild past. What historic, interesting or fun adventure is within a few hours of your home that you’ve never visited and can make a day of it? Go to your local Chamber of Commerce web site to find unique hiking trails, interesting museums, historic landmarks or even discount tickets on local attractions and amusements. The National Park Service (www.nps.gov/) also has an online directory, so find a scenic treasure near your own backyard. Many of these are absolutely free and just waiting to be explored by an active family with a healthy picnic lunch and an eye toward adventure savings.

Camping In – I grew up in the city and wasn’t sure about the whole idea of camping for fun. But the studies I read said that the most common element of healthy and happy families was—you guessed it—camping! You may not want to invest in a camper or camping gear until you’re sure your family will enjoy it. So start slowly by investing in a modest tent and sleeping bags. Let the kids go to the camping section with you at the store and pick a fun camping accessory that they want to try out, like a heavy duty flashlight (to make faces with in the darkness) or a pair of binoculars. Then make a first trip to your backyard, where you learn how to set up and break down camp and still have fun as you cookout and sleep under the stars.

Theme Days – Our kids love community plays and theater, they also like getting into character as often as possible. That is why our family has established “Theme Days” in the summer. We create costumes, cook food and invest in a few good movies. For example, we celebrate my mom’s Spanish heritage on “Hispanic Days” when we cook tacos, burritos, and refried beans while watching fun movies like “The Three Amigos.” Another theme might be Western. Younger kids love dressing up as cowboys and eating hamburgers with baked beans. The movie part of the fun could include City Slickers or a classic such as High Noon or a John Wayne flick. Don’t forget to talk like a cowboy and say, “Thanks ya’ll.” Another fun theme which is great around the Fourth of July could be “Patriotic Days” with red, white and blue décor and maybe even a military theme. Our youngest son has camoflouge that he loves to find an excuse to wear and play “Army Dude.”The most important part of a vacation is building family memories and we have found that the experiences our kids remember the most oftentimes cost the least.

Talking Turkey: How to Painlessly Cut Food Costs

Mon, 01 Jan 0001 00:00:00 GMT

When Jonathan finished, he was holding three grocery bags and I asked, “Honey, what happened over there?”

He smiled broadly, “Well, I told them I was using my own money to buy my sister these groceries and I made such good choices that I only spent $9.80!”

If an eleven-year-old can learn to save money in the grocery store, then so can you. Our family saved over $8,000 last year on food, toiletries and cleansers. That is the equivalent of $13,500 earned on the economy! Proof positive that in this way, a penny saved is more than a penny earned!

Following is my list of “Savings Factors” that will help you save big bucks on your grocery choices. I hope you’ll find them useful!

Stretch The Savings in What You Buy
Buy products like pasta and rice, which go a long way for a low price. These are fabulous “stretchers” and when they are combined with meat, they make inexpensive casseroles, soups or main dishes that everyone loves. Instead of prime cuts of steak, eat hamburger. Instead of buying juice in bottles, consider stretching the savings by buying it frozen and making your own from concentrate. Even buying pre-made convenience foods and frozen dinners instead of going out to eat at night will save you money. These may seem like “little” things, but believe me, they help you stretch your dollars and truly add up to bigger savings!

Sale Ads
Your local stores’ weekly sale ads either come in the mail or are a part of the mid-week newspaper inserts. Don’t just throw those away. Match up the sale ads with some of the other savings factors I’ve listed and you’ll soon find yourself with great products and huge savings.

Low Price Guarantee
For years, I’ve compared prices at different stores in an effort to make sure I get the lowest price on the products my family loves me to buy. Each week, there are circulars from all the stores in your area and they often run “loss leader” sales. This is where the store sells the product at a loss in order to get you to come into their store for your weekly shopping. Stores like Wal-Mart honor competitors’ ads on the same advertised product! Their efforts to be the low price leader has helped me and my family save literally thousands of dollars over the years.

Storage
Allowing food to spoil is the most unnecessary waste of money out there. Try investing in some quality food storage containers and routinely make a quick shelf check in your refrigerator or the pantry shelves to make sure your products are not approaching their expiration safe dates. This not only maximizes the dollars you’ve already paid for food, but it keeps your family safe from consuming spoiled products. Take leftovers to work to save even more, or if your child’s classroom has a refrigerator and microwave, send in their favorite cooked foods in their lunch bag.

Unadvertised Rollbacks and Clearances
Check the store aisles for sales and clearance tags. As much as 50 percent of price specials for retailers are not advertised. I was shopping for deodorant one week and found several brands on rollback for only $1 each—I got three for the price I was prepared to pay for one!

Buying in Bulk, and Sizing Down
Sometimes the family size can save bundles of cash and also save our environment as we buy less packaging in larger sizes. However, sometimes part of the product is lost in wastage or spillage. For example, you spill the big bottle of fabric softner because the bulky bottle is hard to pour. Or, you look at the huge amount and think “I’ve got lots” and pour in too much. The easy remedy is to pour bulk items into smaller storage containers. If you have too much of a product, like pretzels, that may go to waste by buying the larger size, look at splitting the item with a friend or family member. My girlfriends and I like to shop together and split the costs on large sizes of beans, chips, rice, and chocolate. OK, maybe the chocolate split is not absolutely necessary—but it sure is satisfying!

One final tip: Life is too short for a bad cup of coffee, so hold out for the good stuff!

Money Matters: Seven Steps to Survive and Thrive in Uncertain Economic Times

Mon, 01 Jan 0001 00:00:00 GMT

Instead of giving into depression and despair, we decided to become proactive. We set up a budget and learned to stretch the value of a dollar. Fortunately, we were able to dig out of that debt in only two and a half years—it took a lot of work and discipline, but it was worth it! We learned lifelong financial skills and have remained free of debt ever since.

Today, many families are facing the same issues that Bob and I faced when we were first married—paying bills, stretching paychecks, and still trying to maintain a reasonable quality of life. Consumer confidence isn’t very high these days, prices are rising and wages are remaining relatively constant. If most families aren't concerned about losing their homes in uncertain times, they're certainly concerned about rising food and fuel costs, keeping their kids in clothes, or the freedom to go on vacation. But there are answers for those who are willing to do something about it. Here are seven basic tips to help you beware and prepare:

Be Diligent: FICOS (Fair Isaac Credit Scores) – Now is the time to improve your FICO. These scores can determine your auto insurance premiums, when and if you’ll get the job (employers are checking FICOS these days), and whether you pay a security deposit for utilities. If you downsize a home or a vehicle, you’re also going to need to have an excellent FICO to get the best APR rates. Improve your FICO in three easy steps
- Pay your bills a day early by setting up payments online
- Pay more than the minimum balance on your credit cards, which means you are paying down debt
- Proportionality: make sure that you don’t have more than 50 percent of the available credit charged on any one card (for example, $3,000 charged on a card with a $6,000 limit).
Be Smart: Save Your Money- From insurance to groceries, there are savvy ways to save at your fingertips (see the money savings tips on this web site). Start to implement these savings and you will create good saving discipline, which will prepare you for the inevitable highs and lows of the economy. Use the money you save to pay down debt and build short term savings. This prepares you and solidifies your financial picture.
Be a "B" Word Person - If you don't have the "B" word as part of your lifestyle, then yesterday was the day to start budgeting. Set one up with an online budgeting tool – there are several popular versions available online by searching under key words like “budget calculator” or “budget tool.” Make sure your budget has “fun” figured into it and isn’t so restrictive that it’s impossible to follow.
Be Careful: Recalculate Your GPS (Gross Personal Savings): As you are building savings and paying down debt, remember to recalculate your budget. Otherwise, all the money you save is just flying out the door.
Be A Planner With A Purpose - You can have all this good stuff on paper, but if you slap down the credit card to pay for a killer outfit, or buy a new boat during summer vacation—and you have consumer debt—then your plan is only a theory. For it to become REAL, you need to make it part of your daily life. This means your family starts to live with the plan and they don’t incur more debt. Your purpose is to live a life with more financial freedom in order to benefit your family’s future in the long run.
Beware: Debt Consolidation Companies: With rumors of economic uncertainty come an influx of those who want to "help" prepare you for the worst by consolidating your debt. However, many of the for profit debt counseling companies charge a hefty fee for their services, which is usually tacked onto your debt. Look for a non-profit debt consolidation company; the Federal Trade Commission has guidelines that can help you find the best organization for your debt needs. http://www.ftc.gov/bcp/conline/pubs/credit/fiscal.shtm
Be Aware: Refinancing to Pay Debt - As things begin to get tight, you might be tempted to get a HELOC (Home Equity Line of Credit) or refinance in order to pay your consumer debt. This isn’t a good idea if you’re using it to pay consumer debt and you haven’t learned the discipline of living on a budget. This kind of borrowing will only deteriorate the equity in your home and chances are really good you'll be right back in that HUGE boat load of debt by this time next year. The better option is to cut costs, budget, and only use a HELOC for home improvements.